YACHT INSURANCE

“We guarantee the best underwriting, premium and services ”

yacht_insurance

The insurance company creates insurance products and drafts the general conditions of contracts

In the marine environment, claims can range from a few thousand to several million (€, $ ,£)
It is therefore very important in view of the sums involved to thoroughly check out the financial reliability of the company, because it will be paying the founds in the event of a claim.

Conditions of insurance may be of international standards (R12, IYC, Etc.) defining the basic standard of guarantees with the addition of special conditions specific to the insurance company.
It is also possible that the insurer has its own clauses negotiated directly with the insurance company.

Therefore, within the same insurance company, there are several yacht insurance contracts which may be proposed by marine insurance brokers.

Broker, Agent have agreements to sell the products of one or several insurance companies.
They are paid differently depending on the insurance company, the type of insurance and the business volume generated among the companies.

The broker drafts his offer according to the characteristics of the vessel defined by:

– The brand
– The Market Value
– Its use (private / charter)
– The Flag
– The size
– The areas of navigation
– The history
– Etc.

The modification of one of its vectors modifies risk assessment by the insurer and the insurance company. It is therefore important to compare all types of insurance offered by different brokers and underwriters to optimise the guarantees and premiums.

Some conditions are basic to all forms of insurance such as

– Losses and damage
– Engine failure
– Costs of recovery, search at sea, bail-outs, towing and destruction of the wreck
– Legal protection
– Cost of assistance and rescue
– Total / partial theft
– Damage and theft to personal goods and effects
–Loss of charter hire
– ….

 

Special conditions may be added and negotiated according to the company and the insurer
These guarantees can be limited by deductibles which are relatively significant in the marine sector.

“Protection and Indemnity”. The P&I have been created by clubs of shipowners to pool their risks.
They represent the civil liability of the ship and the shipowner in regard to third parties.
Unlike conventional vehicle insurance, it is not compulsory but highly recommended.
They complement the guarantees of the vessel contract, namely:
– Pollution
– Civil liability in the case of practicing water sports
– Civil liability of the shipowner in regard to guests, passengers, the crew or even sub-contractors.

The rates of P&I can be very high depending on the vessel and the areas of navigation. It is therefore essential to understand the use of the vessel in order to determine the right P&I.

We compare and analyse all Yacht Insurance conditions from the best marine underwriters to offer the best contracts that correspond to the specific characteristics of your vessel 

insurance

Through our network, we have better conditions and rates than a common Marine Insurance Broker whatever the providers

Your personalized study is presented to you in the form of a clear and intuitive table in which rates and guarantees are compared.

yacht_insurance_comparison

By choosing your insurance through us, you not only have the best choice of yacht insurance but also the certainty of getting the advantage each year of the best guarantees and prices

If you are already insured, We deal with termination and adherence to the new chosen contract

We bring you an additional service upstream from the insurers in the event of a claim, responsible or not, to guide you and maximise the amounts your receive

TYPE
YEAR
LENGHT (m)
VALUE
CRUISING AREA
USE
MAIN GENERAL CONDITIONS
EXCESS
PREMIUM
(Tax & P&I up to 500 000 000$ Exluded)
M/Y
2001
18
200.000 EUR
EUROPE
Charter
STANDARD + liabilities included
1.000 EUR
865 EUR
S/Y
2007
17
USD 470.000
ASIA
Private
ICY + liabilities included
USD 4,500
USD 4,100
M/Y
2006
20
800.000 EUR
EUROPE
Private
Standard +liabilities included
3.400 EUR
3.560 EUR
S/Y
2016
14
1.050.000 EUR
CARRIBEAN
Private
ICY + liabilities included
5.000 EUR
5.300 EUR
M/Y
2012
22
2.400.000EUR
EUROPE
Private
R12 American Yacht Form + liabilities included
7.500 EUR
7.5000 EUR
S/Y
2016
14
4.100.000 EUR
WORLDWIDE
Charter
R12 American Yacht Form + liabilities included
12.000 EUR
12.000 EUR
M/Y
2011
33
7.500.000 EUR
WORLDWIDE
Charter
R12 American Yacht Form + liabilities included + War Risks
15.000 EUR
18.200 EUR
M/Y
2010
36
USD 10,000,000
WORLDWIDE
Charter
R12 American Yacht Form + War Risks
USD 20,000
USD 18,000
M/Y
1985
57
USD 15,000,000
WORLDWIDE
Private
R12 American Yacht Form + liabilities included + War Risks
USD 37,500
USD 31,500

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